When Economists Refer to Intangible Items,they Are Referring to Such

question 70

Multiple Choice

When economists refer to intangible items,they are referring to such things as

• A)illegal goods,and the value of such items is included in GDP.
• B)illegal goods,and the value of such items is excluded from GDP.
• C)hair styling and dental care,and the value of such items is included in GDP.
• D)hair styling and dental care,and the value of such items is excluded from GDP.

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Definitions:

Theodore Levitt

Theodore Levitt was a renowned economist and professor at Harvard Business School, best known for his work on marketing and for coining the term "globalization."

Market Share

The percentage of an industry's sales that a particular company controls, serving as an indicator of the company's size and competitiveness.

Trucking

The transportation of goods and materials by road using trucks.

Routes

Paths or methods chosen to deliver goods or services to consumers, which can also refer to the logistical pathways in supply chain management.